Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) Short Interest Down 80.1% in August

Western Asset Global Corporate Defined Opportunity Fund Inc. (NYSE:GDO) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 1,669 shares, a drop of 80.1% from the July 30th total of 8,374 shares. Based on an average trading volume of 71,045 shares, the days-to-cover ratio is presently 0.0 days.

Western Asset Global Corporate Defined Opportunity Fund Price Performance

Shares of GDO remained flat at $10.17 during midday trading on Wednesday. 8,720 shares of the stock were exchanged, compared to its average volume of 33,703. The company’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $10.83. Western Asset Global Corporate Defined Opportunity Fund has a 52 week low of $10.15 and a 52 week high of $12.15.

Western Asset Global Corporate Defined Opportunity Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be paid a $0.122 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 14.4%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of Western Asset Global Corporate Defined Opportunity Fund by 54.1% during the 1st quarter. Royal Bank of Canada now owns 28,370 shares of the company’s stock worth $329,000 after acquiring an additional 9,957 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Western Asset Global Corporate Defined Opportunity Fund by 1.2% in the second quarter. Raymond James Financial Inc. now owns 75,165 shares of the company’s stock valued at $887,000 after purchasing an additional 884 shares during the period. Ameriprise Financial Inc. lifted its holdings in Western Asset Global Corporate Defined Opportunity Fund by 9.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 119,207 shares of the company’s stock worth $1,396,000 after purchasing an additional 10,148 shares during the last quarter. UBS Group AG grew its holdings in Western Asset Global Corporate Defined Opportunity Fund by 1.7% in the 3rd quarter. UBS Group AG now owns 61,403 shares of the company’s stock valued at $729,000 after buying an additional 1,044 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in Western Asset Global Corporate Defined Opportunity Fund during the 3rd quarter worth $177,000.

About Western Asset Global Corporate Defined Opportunity Fund

The Western Asset Global Corporate Defined Opportunity Fund (NYSE:GDO) is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues a broadly diversified portfolio of corporate debt instruments, investing across investment-grade and below investment-grade securities issued by corporations worldwide. Through an actively managed strategy, GDO aims to capture opportunities arising from market dislocations, credit spreads and interest rate movements.

GDO’s investment approach is built around a global credit platform, allowing the fund to allocate capital across various sectors, regions and credit-quality levels.